Twitter Inc is poised to agree a sale to Elon Musk for around $43 billion in cash, the price the chief executive of Tesla Inc has called his "best and final" offer for the social media company, people familiar with the matter said.
Highlights
- Twitter poised to agree a sale to Elon Musk for around $43 billion in cash, people familiar with the matter said.
- Twitter may announce the $54.20-per-share deal later on Monday once its board has met to recommend the transaction to Twitter shareholders.
- Musk, the world’s richest person according to a tally by Forbes, is negotiating to buy Twitter in a personal capacity.
- Twitter shares were up 4.5% in pre-market trading in New York on Monday at $51.15 per share.
- The sale would represent an admission by Twitter that its new chief executive Parag Agrawal is not making enough traction in making the company more profitable.